The Transportation Sector and the Blockchain
The blockchain, or distributed ledger technology, will revolutionize the way the world does business, much like the Internet did over 20 years ago. The applications for this technology are endless, and include, at a minimum:
- Financial services
- Payments and asset transfers
- Securities and commodities trading
- Smart contracts
- Supply chain management
- Sanctions and export control compliance
- Intellectual property protection and digital rights management
- Identity management and security
- Auditing and compliance improvements in proprietary networks
- Government services
- Internet of Things.
The blockchain has the potential to impact every company, in every industry, in every part of the world.
Steptoe’s Blockchain Team has a unique role in the blockchain industry and brings an unparalleled combination of FinTech, financial services, regulatory, and law enforcement experience. Steptoe serves as an advisor to both Coin Center and the Chamber of Digital Commerce, two of the industry’s leading advocacy groups. Steptoe also co-founded and leads the Blockchain Alliance, a coalition of over 25 of the leading companies in the blockchain space that is engaged with government agencies all over the world, educating them about, and helping promote the growth of, this technology.
Steptoe’s Blockchain Team provides a holistic approach to the blockchain for our clients, providing legal and strategic guidance, helping clients develop and implement proactive blockchain strategies, and advising on legal and regulatory issues relating to this technology. We have advised venture capital firms, financial institutions, and both early-stage and more established companies on digital currencies and distributed ledger technology. And Steptoe is the go-to firm for any institution dealing with US or foreign governments on blockchain issues. We provide an array of services, tailored to your institution, in partnership with your internal strategy and technology teams as well as your other service providers.
For Transportation Companies:
- Strategic advice and counsel on understanding the blockchain and distributed ledger technology environment
- Advice and counsel on potential blockchain and distributed ledger technology applications in the transportation industry, such as passenger identity verification, apps that assist with flight delay or other compensation claims, and tracking cargo shipments
- Due diligence on blockchain companies as potential partners, and on digital currency companies as potential payments partners
- Impact assessments of blockchain and distributed ledger technologies, including the benefits of public blockchain applications versus private blockchains
- Development of strategic transition plans to blockchain and distributed ledger technology applications
- Legal, regulatory, and policy counsel, as well as assistance with government inquiries, requests for information, legislative hearings, as well as investigations and enforcement actions
Steptoe can also bring in a range of blockchain technology, information technology, and consulting partners to provide a full-service approach to evaluating and adopting blockchain and distributed ledger technologies.
For more resources about the blockchain and to learn more about our Blockchain Team, please visit Steptoe’s Blockchain Team site.